Panama: Market for Tiles, Flagstones And Similar Articles Of Cement, Concrete Or Artificial Stone 2024

Market Size for Tiles, Flagstones And Similar Articles Of Cement, Concrete Or Artificial Stone in Panama

After two years of growth, the Panamanian market for tiles, flagstones and similar articles of cement, concrete or artificial stone decreased by X% to $X in 2023. Overall, consumption, however, enjoyed a notable increase. As a result, consumption attained the peak level of $X. From 2014 to 2023, the growth of the market remained at a somewhat lower figure.

Exports of Tiles, Flagstones And Similar Articles Of Cement, Concrete Or Artificial Stone

Exports from Panama

In 2023, exports of tiles, flagstones and similar articles of cement, concrete or artificial stone from Panama soared to X tons, increasing by X% compared with the previous year's figure. Overall, exports, however, faced a deep contraction. The growth pace was the most rapid in 2013 with an increase of X%. As a result, the exports reached the peak of X tons. From 2014 to 2023, the growth of the exports of remained at a somewhat lower figure.

In value terms, exports of tiles, flagstones and similar articles of cement, concrete or artificial stone soared to $X in 2023. Over the period under review, exports, however, continue to indicate a perceptible shrinkage. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2023, the growth of the exports of remained at a somewhat lower figure.

Exports by Country

The United States (X tons), the Dominican Republic (X tons) and Guatemala (X kg) were the main destinations of exports of tiles, flagstones and similar articles of cement, concrete or artificial stone from Panama, with a combined X% share of total exports.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for tiles, flagstones and similar articles of cement, concrete or artificial stone exports from Panama, comprising X% of total exports. The second position in the ranking was taken by the Dominican Republic ($X), with a X% share of total exports. It was followed by Guatemala, with a X% share.

From 2012 to 2023, the average annual growth rate of value to the United States stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Dominican Republic (X% per year) and Guatemala (X% per year).

Export Prices by Country

The average export price for tiles, flagstones and similar articles of cement, concrete or artificial stone stood at $X per ton in 2023, shrinking by X% against the previous year. Over the period under review, the export price, however, posted resilient growth. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2022, and then fell remarkably in the following year.

There were significant differences in the average prices for the major overseas markets. In 2023, amid the top suppliers, the country with the highest price was Jamaica ($X per ton), while the average price for exports to Nicaragua ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to El Salvador (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Tiles, Flagstones And Similar Articles Of Cement, Concrete Or Artificial Stone

Imports into Panama

In 2023, overseas purchases of tiles, flagstones and similar articles of cement, concrete or artificial stone decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. In general, imports recorded a perceptible slump. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. As a result, imports reached the peak of X tons. From 2014 to 2023, the growth of imports of remained at a somewhat lower figure.

In value terms, imports of tiles, flagstones and similar articles of cement, concrete or artificial stone contracted notably to $X in 2023. Overall, imports, however, posted resilient growth. The pace of growth was the most pronounced in 2013 when imports increased by X%. As a result, imports reached the peak of $X. From 2014 to 2023, the growth of imports of failed to regain momentum.

Imports by Country

In 2023, China (X tons) constituted the largest tiles, flagstones and similar articles of cement, concrete or artificial stone supplier to Panama, with a X% share of total imports. Moreover, imports of tiles, flagstones and similar articles of cement, concrete or artificial stone from China exceeded the figures recorded by the second-largest supplier, Colombia (X tons), threefold. Spain (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2023, the average annual growth rate of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Colombia (X% per year) and Spain (X% per year).

In value terms, the largest tiles, flagstones and similar articles of cement, concrete or artificial stone suppliers to Panama were Spain ($X), China ($X) and Nicaragua ($X), together comprising X% of total imports. Colombia, Turkey, the Czech Republic, Argentina, Hong Kong SAR, Mexico, Israel, Costa Rica, Brazil and Guatemala lagged somewhat behind, together accounting for a further X%.

Brazil, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for tiles, flagstones and similar articles of cement, concrete or artificial stone stood at $X per ton in 2023, waning by X% against the previous year. Over the period under review, the import price, however, saw buoyant growth. The pace of growth appeared the most rapid in 2020 when the average import price increased by X%. As a result, import price attained the peak level of $X per ton. From 2021 to 2023, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Spain ($X per ton), while the price for Costa Rica ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Spain (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform